Company registration number: 09978248 Charity registration number: 1168392
St Peter's Formby Educational Trust 2015
(A company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 December 2025
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 to 18 |
Reverend Anne Taylor Mrs Sarah Elizabeth Howard Gorman Mrs Gillian Mary Holroyd Mrs Wendy Thorpe Mrs Shirley Potter St Peter's Vicarage Cricket Path Formby Liverpool Merseyside L37 7DP The charity is incorporated in England and Wales. 09978248 1168392 Brabners Horton House Exchange Flags Liverpool L2 3YL Mr John Martin Hughes BSc FCA Heriot Hughes Chartered Accountants 42 Crosby Road North Crosby Merseyside L22 4QQ
Page 1
The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 December 2025.
The objectives of the charity which are undertaken for public benefit are:
-
To advance education by the provision of items, services and facilities for Trinity St Peter's Church of England (Aided) primary School, (the school).
-
To advance education by the provision of items, services and facilities for any school substantially serving Formby.
-
To advance the education of persons in Formby who are in need of financial assistance and who are:
i. persons who are attending Trinity St Peter's Church of England (Aided) Primary School, or ii. persons who have at any time attended the School or; iii. persons under the age of 25
- The provision of facilities in the interest of social welfare for the recreation for persons under the age of 25 resident in Formby who have need of such facilities by reason of their age with the object of improving their conditions of life.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Each year the trustees invite schools and other eligible groups in Formby to apply for grant assistance to support any special projects that would otherwise not be met from the Local Education Authority. The trustees meet to consider the merits of each application and make grants to such applicants as fulfil the trustees' criteria.
The charity was able to assist Woodlands Primary School and a number of youth organisations in the community during the year, notably assisting 9th Formby Scouts with replacement of their minibus. Additionally, donations were made to two local young people planning overseas educational trips.
The charity's income for the year amounted to £49,281 (2024: £50,730) and expenditure amount to £30,281 (2024: £27,525). This increased the unrestricted fund by £19,000 (2024: £23,205). The balance on the unrestricted funds at the balance sheet date amounted to £183,282 (2024: £164,281). The balance on the endowment fund at the balance sheet date amounted to £1,277,678 (2024:£1,275,063).
Page 2
The charity has reviewed its policy on reserves. The reserves policy is to ensure that the charity has sufficient funds in reserve to manage its operations smoothly during periods of unexpected fluctuations in income or increased expenditure. These reserves will provide a buffer to enable the Charity to continue to meet its charitable objectives without compromising its financial stability. The charity aims to maintain reserves of between 3 to 6 months' worth of operating costs.
The trustees have continued to maintain the policy adopted in the old trust of investment in CBF Church of England Investment Fund. This fund is specifically designed to generate long term capital and income growth and is invested mainly in equities with a wide diversification of good quality holdings in both the UK and overseas. Funds are also invested in a Deposit Fund designed to provide easy access if required for trust purposes.
The charity is a company limited by guarantee incorporated on 31 January 2016 and registered as a charity on 22 July 2016. The company was established under a Memorandum of Association which established the objects and powers of the charity and is governed under its Articles of Association.
The trustees, who are also the directors for the purpose of the company law, and who served during the year end up to the date of signature of the financial statements were:
Rev Anne Taylor Mrs Sarah Elizabeth Howard Gorman Mrs Gillian Mary Holroyd
The trustees have accessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Page 3
The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.
The charity’s principal financial assets are bank balances, cash, and investments. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.
The trustees (who are also the directors of St Peter's Formby Educational Trust 2015 for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Page 4
The annual report was approved by the trustees of the charity on 28 April 2026 and signed on its behalf by:
......................................... Reverend Anne Taylor Trustee
Page 5
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of St Peter's Formby Educational Trust 2015 are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of St Peter's Formby Educational Trust 2015 as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Mr John Hughes BSc FCA Heriot Hughes Chartered Accountants
42 Crosby Road North Crosby Merseyside L22 4QQ
28 April 2026
Page 6
| Charitable activities 3 Investment income 4 Total Income Charitable activities 5 Total Expenditure Gains/(losses) on investment assets Net income Net movement in funds Total funds brought forward Total funds carried forward 15 Charitable activities Investment income Total Income Charitable activities Total Expenditure Gains/(losses) on investment assets Net income Net movement in funds Total funds brought forward Total funds carried forward |
11,602 37,679 49,281 (30,281) (30,281) - 19,000 19,000 164,282 183,282 3 4 5 15 |
- - - - - 2,615 2,615 2,615 1,275,063 1,277,678 13,175 37,555 50,730 (27,525) (27,525) - 23,205 23,205 141,076 164,281 |
11,602 37,679 49,281 (30,281) (30,281) 2,615 21,615 21,615 1,439,345 1,460,960 - - - - - 18,126 18,126 18,126 1,256,937 1,275,063 |
13,175 37,555 |
|---|---|---|---|---|
| 50,730 | ||||
| (27,525) | ||||
| (27,525) 18,126 |
||||
| 41,331 | ||||
| 41,331 1,398,013 |
||||
| 1,439,344 | ||||
| 13,175 37,555 |
||||
| 50,730 | ||||
| (27,525) | ||||
| (27,525) 18,126 |
||||
| 41,331 | ||||
| 41,331 1,398,013 |
||||
| 1,439,344 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2025 and 2024 are shown in note 15.
The notes on pages 9 to 18 form an integral part of these financial statements. Page 7
| Investment properties 10 Investments 11 Debtors 12 Cash at bank and in hand 13 14 Unrestricted 15 |
500,000 777,678 1,277,678 327 189,559 189,886 (6,604) 183,282 1,460,960 1,277,678 183,282 1,460,960 |
465,000 810,063 |
|---|---|---|
| 1,275,063 | ||
| 322 170,345 |
||
| 170,667 (6,386) |
||
| 164,281 | ||
| 1,439,344 | ||
| 1,275,063 164,281 |
||
| 1,439,344 | ||
For the financial year ending 31 December 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements on pages 7 to 18 were approved by the trustees, and authorised for issue on 28 April 2026 and signed on their behalf by:
......................................... Reverend Anne Taylor Trustee
The notes on pages 9 to 18 form an integral part of these financial statements. Page 8
The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.
The address of its registered office is: St Peter's Vicarage Cricket Path Formby Liverpool Merseyside L37 7DP
These financial statements were authorised for issue by the trustees on 28 April 2026.
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
St Peter's Formby Educational Trust 2015 meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
Page 9
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income from investments, including interest received, is included when receivable, Income from the endowment is credited to the unrestricted fund.
Assets given for use by the charity are recognised when receivable as donations.
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Endowment funds exist where there is a capital fund with no power to convert the capital into income. The freehold land and buildings included in tangible fixed assets and in investment properties are historic, inalienable and form part of a permanent endowment which means that they cannot be sold but must be held in perpetuity.
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Page 10
Investment property comprises the School Cottage, 15 Paradise Lane and St Peter's Parish Hall. The fair value of the investment property has been arrived at on the basis of a valuation carried out in February 2026 by Home- MOT a RICS registered valuer. The valuation was made on an open market value basis. The trustees believe that this valuation represents the current fair value of the properties at the balance sheet date.
Investment property donated to the charity has been measured initially at fair value based on a previous valuation. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in statement of financial activities.
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Page 11
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
Page 12
| Church Hall lettings and licence fee Church Hall lettings and licence fee Interest receivable and similar income; Interest receivable on bank deposits Other income from fixed asset investments Income from rents Premises Costs Grant funding of activities Governance costs 6 |
11,602 13,175 3,170 22,509 12,000 37,679 37,555 19,998 8,636 1,647 30,281 27,525 |
11,602 |
|---|---|---|
| 13,175 | ||
| 3,170 22,509 12,000 |
||
| 37,679 | ||
| 37,555 | ||
| 19,998 8,636 1,647 |
||
| 30,281 | ||
| 27,525 | ||
Page 13
| Independent examination fees Examination of the financial statements Legal fees Other governance costs Woodlands Primary School 1,350 9th Formby Scout Group 6,000 St Peter's little fishes group 161 Junior Choir 325 Individual grants - Uganda trip - Trinity St Peter's Primary School - Junior football team - 5th Formby Scouts Group - 7,836 |
1,330 261 56 1,647 1,900 - 120 - - 3,089 1,040 300 600 7,049 |
1,330 261 56 1,647 - - - - 800 - - - - 800 |
1,270 426 61 |
|---|---|---|---|
| 1,757 | |||
| - - - - 700 - - - - |
|||
| 700 |
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
There were no employees during the year (2024 : none).
Page 14
| At 1 January 2025 Revaluations At 31 December 2025 At 31 December 2025 At 31 December 2024 |
465,000 35,000 500,000 500,000 465,000 |
465,000 35,000 |
|---|---|---|
| 500,000 | ||
| 500,000 | ||
| 465,000 |
Page 15
| At 1 January 2025 Revaluation of investments At 31 December 2025 At 31 December 2025 At 1 January 2025 Prepayments Cash at bank Other creditors Accruals |
810,063 (32,385) 777,678 777,678 810,063 327 189,559 5,274 1,330 6,604 |
810,063 (32,385) 777,678 777,678 810,063 327 189,559 5,274 1,330 6,604 |
810,063 (32,385) 777,678 777,678 810,063 322 |
|
|---|---|---|---|---|
| 777,678 | ||||
| 777,678 | ||||
| 810,063 | ||||
| 327 189,559 5,274 1,330 6,604 |
||||
| 170,345 | ||||
| 5,116 1,270 |
||||
| 6,386 |
Page 16
| General Permanent General Permanent Heritage assets Fixed asset investments Current assets Current liabilities Total net assets |
164,282 1,275,063 1,439,345 141,076 1,256,937 1,398,013 |
49,281 (30,281) - - - 2,615 49,281 (30,281) 2,615 50,730 (27,525) - - - 18,126 50,730 (27,525) 18,126 - 500,000 - 777,678 189,886 - (6,604) - 183,282 1,277,678 |
- 2,615 |
183,282 1,277,678 |
|
|---|---|---|---|---|---|
| 2,615 | 1,460,960 | ||||
| - 18,126 |
164,281 1,275,063 |
||||
| 18,126 | 1,439,344 | ||||
| 500,000 777,678 189,886 (6,604) |
|||||
| 1,460,960 |
Page 17
| Heritage assets Fixed asset investments Current assets Current liabilities Total net assets |
- - 170,667 (6,386) 164,281 |
465,000 810,063 - - 1,275,063 |
465,000 810,063 170,667 (6,386) |
|---|---|---|---|
| 1,439,344 |
There were no related party transactions in the year.
The trustees are also the key management of the charity.
Page 18
| Charitable activities Investment income Total income Charitable activities Total expenditure Net income Net movement in funds Total funds brought forward Total funds carried forward |
11,602 37,679 49,281 (30,281) (30,281) 19,000 19,000 164,282 183,282 |
13,175 37,555 |
|---|---|---|
| 50,730 | ||
| (27,525) | ||
| (27,525) | ||
| 23,205 | ||
| 23,205 141,076 |
||
| 164,281 |
This page does not form part of the statutory financial statements. Page 19
| Gains/losses on investment assets Net income Total funds brought forward Total funds carried forward |
2,615 2,615 1,275,063 1,277,678 |
18,126 |
|---|---|---|
| 18,126 1,256,937 |
||
| 1,275,063 |
This page does not form part of the statutory financial statements. Page 20
| Charitable activities (analysed below) Investment income (analysed below) Total income Charitable activities (analysed below) Total expenditure Gains/losses on investment assets (analysed below) Net income Net movement in funds Total funds brought forward Total funds carried forward |
11,602 37,679 49,281 (30,281) (30,281) 2,615 21,615 21,615 1,439,345 1,460,960 |
13,175 37,555 |
|---|---|---|
| 50,730 | ||
| (27,525) | ||
| (27,525) 18,126 |
||
| 41,331 | ||
| 41,331 1,398,013 |
||
| 1,439,344 |
This page does not form part of the statutory financial statements. Page 21
| Income in furtherance of the charity's objectives Income from investment properties Income from listed investments Interest Premises Costs Grants payable - institutions Grants payable - individuals The independent examination of the charity's annual accounts Legal and professional fees Bank charges Gains/losses on investment assets Funds - investment assets |
11,602 11,602 12,000 22,509 3,170 37,679 (19,998) (7,836) (800) (1,330) (261) (56) (30,281) 2,615 |
13,175 |
|---|---|---|
| 13,175 | ||
| 12,000 21,983 3,572 |
||
| 37,555 | ||
| (18,019) (7,049) (700) (1,270) (426) (61) |
||
| (27,525) | ||
| 18,126 |
This page does not form part of the statutory financial statements. Page 22